We all know RED is more than 100% discounted on its fundamental value based on the current gold price.
We all know that RED is drilling Mapawa, and initial drilling of first hole has hit the "right rocks" WITH MINERALISATION, and reportedly was terminated at 550 metres still in mineralisation (below original planned depth of 450 metres.
We know that RED now has raised all its equity component, totalling $45 million for Siana development (PLUS another $19 million in the kitty "for a rainy day"), and has the banks completing the lending arrangement of the remainder to develop Siana.
We know RED WILL trade at a premium to its fundamental value at production start up, the swing over point (from discount to premium) will be some months before actual production begins.
We know that RED now has 31 supportive insto's on the books, that paid 15.5 cents per share. They are not short term traders wanting to take a quick loss or a quick profit.
Each day I see RED share price show lots of promise and then get dumped. I really wonder who is playing this game, and why?
IMO its going to be the last opportunity for longer term investors to get into RED before that swing over process into premium begins.
The time is ticking, each day brings us closer to production ....
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Last
38.0¢ |
Change
-0.005(1.30%) |
Mkt cap ! $2.584B |
Open | High | Low | Value | Volume |
39.0¢ | 39.3¢ | 38.0¢ | $2.644M | 6.798M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
38 | 909916 | 38.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
38.5¢ | 1408850 | 58 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
35 | 964909 | 0.380 |
35 | 808656 | 0.375 |
25 | 1045494 | 0.370 |
26 | 1051111 | 0.365 |
26 | 683031 | 0.360 |
Price($) | Vol. | No. |
---|---|---|
0.385 | 499551 | 42 |
0.390 | 784701 | 25 |
0.395 | 871994 | 19 |
0.400 | 600778 | 17 |
0.405 | 311968 | 7 |
Last trade - 10.48am 26/06/2024 (20 minute delay) ? |
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RED (ASX) Chart |